Macau's hotel industry profits MOP 8.11 billion in 2024

The Zhitong Finance App learned that on September 19, data from the Macau Statistics and Census Bureau showed that in 2024, as inbound visitors continued to rise, the number of guests and room occupancy rates increased further, driving the revenue of the hotel industry (including hotels and budget accommodations) to increase by 13.6% year-on-year to 43.31 billion yuan (MOP, same below); expenses (excluding depreciation and interest payments) also increased by 18.2% to 35.26 billion yuan. The hotel industry recorded a profit of $8.11 billion (before deducting depreciation and interest payments) in 2024.

Analyzed by venue category, hotel revenue increased 13.5% year-on-year to $43.13 billion in 2024, with revenue from room rent ($20.76 billion) and catering services ($10.25 billion) increasing by 12.5% and 25.2% respectively. Revenue from various star hotels recorded an average annual increase. Among them, revenue from four-star hotels increased by 26.1%, while revenue from five-star and three-star hotels also increased by 11.0% and 9.7%, respectively.

Hotel expenses increased by 18.2% year-on-year to $35.15 billion. Among them, operating expenses ($17.10 billion), employee expenses ($13.97 billion), and purchase and commission expenses ($4.08 billion) increased by 20.4%, 15.2% and 20.1% respectively. The hotel's annual profit (before deducting depreciation and interest payments) was $8.04 billion.

In terms of budget accommodation, revenue and expenditure in 2024 were $170 million and $110 million respectively, up 57.0% and 22.0% respectively from 2023; annual profit was $70 million.

The scope of the hotel industry survey includes licensed and operating hotel establishments in Macau in the reference year. There are 148 establishments operating in 2024, involving 104 hotels and 44 budget accommodation establishments.